Editing Maria Theresa thaler

{{Short description|Iconic silver bullion coin}}
[[Image:Tallero di Maria Teresa.jpg|420px|thumb|[[Silver coin]]: 1 [[Maria Theresa]] thaler]]

The '''Maria Theresa thaler''' ('''MTT''') is a [[silver]] [[bullion coin]] and a type of [[Conventionsthaler]] that has been used in [[trade coin|world trade]] continuously since it was first minted in 1741. It is named after [[Maria Theresa]]  who ruled [[Austria]], [[Hungary]], [[Croatia]] and [[Bohemia]] from 1740 to 1780 and is depicted on the coin.

==History==
{{More citations needed | section|date=April 2024}}
In 1741, the first MTT was struck according to the {{lang|de|[[Reichsthaler]]|italic=no}} standard with {{frac|1|9}} of a [[Cologne mark]] of fine silver, or 25.98 grams. In 1750 a new [[thaler]] was struck with a gross weight of {{frac|1|10}} of 1 Vienna mark of silver, {{frac|5|6}} fine (with a fine silver content of 23.39 grams, or {{frac|1|10}} of a Cologne mark). In 1751 this new standard {{lang|de|[[Conventionsthaler]]|italic=no}} was effectively adopted across the German-speaking world when it was accepted formally in the Bavarian monetary convention. This new, post-1751 thaler has continued as a trade coin ever since.

Since the death of Maria Theresa in 1780, the coin has always been dated 1780. On 19 September 1857, Emperor [[Francis Joseph of Austria]] declared the Maria Theresa thaler to be an official trade coinage. A little over a year later, on 31 October 1858, it lost its status as a currency in Austria.

The MTT could also be found throughout the [[Arab]] world, especially in [[Saudi Arabia]], [[Yemen]], and [[Muscat and Oman]], in Africa, especially in [[Ethiopia]], and [[India]]. Being of similar size to the [[Spanish dollar|Spanish eight-real coin]], and initially thought to be of French origin, the MTT acquired the Arab name {{lang|ar-Latn|al-riyal al-fransi}} ({{lang|ar|الريال الفرنسى}}, literally the 'French riyal').<ref>{{Cite web |url=https://www.sama.gov.sa/en-US/Currency/pages/historicalinfo.aspx |title=The Historical Framework of the Currency of Saudi Arabia }}</ref> This coin was therefore the predecessor to, among others, the [[Saudi riyal]] and the [[Ethiopian birr]].

During the [[Japanese occupation of the Dutch East Indies]] in World War II, enough people preferred it to the money issued by the occupying forces that the American [[Office of Strategic Services]] created counterfeit MTTs for use by resistance forces.<ref>{{cite journal |journal=[[Popular Science]] |date=July 1963 |pages=56–58 |title=Deadly Gadgets of the OSS |last=Lovell |first=Stanley P. |url=https://books.google.com/books?id=pSADAAAAMBAJ&q=magazine_serial:MjwEAAAAMBAJ |format=PDF |access-date=2009-12-01 }}</ref>

In German-speaking countries, following a [[German Orthographic Conference of 1901|spelling reform dated 1901]] that took effect two years later, {{lang|de-1901|Thaler}} is written {{lang|de|Taler}} (the spelling of given names like {{lang|de-1901|Theresa}} was not affected). Hence 20th-century references to this coin in German and Austrian sources are found under {{lang|de|Maria-Theresien-Taler}}. The spelling in English-speaking countries was not affected.

The MTT continues to be produced by the [[Austrian Mint]] and is available in both [[proof coinage|proof]] and uncirculated conditions.<ref>{{cite web |url=https://www.muenzeoesterreich.at/eng |title=Austrian Mint |website=www.muenzeoesterreich.at }}</ref>

==Details==
The thaler is {{cvt|39.5|-|41|mm}} in diameter and {{cvt|2.5|mm}} thick, weighs {{convert|28.0668|g}} and contains 23.386&nbsp;grams (0.752 [[Troy weight|troy ounces]]) of fine silver.  It has a silver content of .833 and a copper content of .166 of its total [[millesimal fineness]]. Note: Rome mint struck MTTs are marginally lighter being produced in finer 835-standard instead of 833-standard silver.

[[File:The reverse of the iconic Maria Theresa thaler of 1780, photographed by Yogabrata Chakraborty from personal collection, on July 22, 2023.jpg|thumb|200px|Reverse of the restrike Maria Theresa thaler]]
The inscription on the obverse of this coin is in Latin: "M. THERESIA D. G. R. IMP. HU. BO. REG." The Reverse reads "ARCHID. AVST. DUX BURG. CO. TYR. 1780 X". It is an abbreviation of {{lang|la|Maria Theresia, Dei Gratia Romanorum Imperatrix, Hungariae Bohemiaeque Regina, Archidux Austriae, Dux Burgundiae, Comes Tyrolis. 1780 ☓}}, which means, 'Maria Theresa, by the grace of God, [[Holy Roman Emperor|Empress of the Romans]], Queen of Hungary and Bohemia, Archduchess of Austria, Duchess of Burgundy, Countess of Tyrol. 1780'. The "☓" is a [[saltire]] or [[Burgundian cross]],<ref>{{cite journal |author=M. R. Broome |title=The 1780 Restrike Talers of Maria Theresia |journal=[[The Numismatic Chronicle]] |series=Seventh Series |volume=12 |page=233 |date=1972}}</ref> and was added in 1750 indicating the new debased standard of the thaler. Around the rim of the coin is the motto of her reign: {{lang|la|Justitia et Clementia}}, meaning 'Justice and Clemency'.

==Minting outside of Austria==
The MTT quickly became a standard trade coin and several nations began striking Maria Theresa thalers. The following [[mint (coin)|mints]] have struck MTTs: [[Birmingham Mint|Birmingham]], [[India Government Mint, Mumbai|Bombay]], [[Brussels]], [[Royal Mint|London]], [[Monnaie de Paris|Paris]], [[Rome]], and [[Utrecht (city)|Utrecht]], in addition to the [[Habsburg]] mints in [[Günzburg]], [[Hall in Tirol|Hall in Tyrol]], [[Karlsburg, Mecklenburg-Vorpommern|Karlsburg]], [[Kremnica]], [[Milan]], [[Prague]], and [[Vienna]]. Between 1751 and 2000, some 389 million were minted. These various mints distinguished their issues by slight differences in the design, with some of these evolving over time.<ref>{{cite web|last=Fenn|first=Ian|url=http://www.numismatik-cafe.at/download/file.php?id=7722|title=TWO RARE VARIETIES OF THE 1780 MARIA THERESIA THALER|date=December 2009}}</ref> In 1935 [[Mussolini]] gained a 25-year concession over the production of the MTT. The Italians blocked non-Italian banks and bullion traders from obtaining the coin and so France, Belgium, and the UK started producing the coin to support their economic interests in the Red Sea, Persian Gulf, and East Coast of Africa. In 1961 the 25-year concession ended and Austria made diplomatic approaches to the relevant governments requesting they cease production of the coin. The UK was the last government to agree formally to the request in February 1962.

The MTT came to be used as currency in large parts of Africa and the Middle East until after [[World War II]]. It was common from North Africa to [[Somalia]], [[Ethiopia]], [[Kenya]], down the coast of [[Tanzania]] to [[Mozambique]], and also in the Arabian Peninsula ([[Oman]], [[Yemen]]). Its popularity in the [[Red Sea]] region was such that merchants would not accept any other type of currency. The Italian government produced a similarly designed coin in the hope of replacing the Maria Theresa thaler, but it never gained acceptance.<ref>Alan McRae, "A Famous Trade Coin," ''Australian Coin Review'' 356 [February 1994] p. 30.</ref>

The Maria Theresa thaler was also formerly the currency of the Hejaz, Yemen, and the Aden Protectorate, as well as [[Muscat and Oman]] on the Arabia peninsula. There it was widely used for traditional jewellery, both as a source of silver, and as a decoration itself.<ref>[https://omanisilver.com/contents/en-us/d351.html Oman silver]</ref> The coin remains popular in [[North Africa]] and the [[Middle East]] to this day in its original form: a silver coin with a portrait of the ruler on the front and the [[Habsburg]] [[two headed eagle|Double Eagle]] on the back.<ref>{{cite news|last=Harrigan|first=P.|title=Tales of a Thaler|url=http://www.saudiaramcoworld.com/issue/200301/tales.of.a.thaler.htm|access-date=2 August 2013|newspaper=Saudi Aramco World|date=February 2002|archive-date=21 January 2013|archive-url=https://web.archive.org/web/20130121204428/http://www.saudiaramcoworld.com/issue/200301/tales.of.a.thaler.htm|url-status=dead}}</ref>

In the [[United Kingdom]], the Maria Theresa thaler bearing the date of 1780 is a "protected coin" for of Part II of the [[Forgery and Counterfeiting Act 1981]].<ref>The [[Forgery and Counterfeiting Act 1981]], section 27(1), as read with the Forgery and Counterfeiting (Protected Coins) Order 1981 (S.I. 1981/505), [http://www.legislation.gov.uk/uksi/1981/1505/article/2/made article 2] and [http://www.legislation.gov.uk/uksi/1981/1505/schedule/made Schedule]</ref>

==Ethiopia==
[[File:Shipment of thalers, Dire Dawa.jpg|thumb|upright=1.15|Shipping crates of MTT in Ethiopia, {{circa|1910}}]]
The MTT is first recorded as circulating in [[Ethiopia]] from Emperor [[Iyasu II of Ethiopia]] (1730–1755).<ref>{{cite book |first=Richard |last=Pankhurst |author-link=Richard Pankhurst (historian) |title=Economic History of Ethiopia |location=Addis Ababa |publisher=[[Haile Selassie I University]] |date=1968 |page=468 }}</ref> According to traveller [[James Bruce]], the coin, not debased as other currencies, dominated the areas he visited in 1768. [[Joseph Kalmer]] and Ludwig Hyun in the book {{lang|de|Abessinien}} estimate that over 20% of 245 million coins minted until 1931 ended up in Ethiopia.<ref name="bagman">{{cite book |first=Joseph |last=Kalmer |author1-link=Joseph Kalmer |author2=Hyun L. |title=Abessinien |year=1935 |language=de, cs |translator=Milena Jesenská |translator-link=Milena Jesenská |quote=Chapter 13 describes currencies used in pre-WWII Abyssinia.}}</ref>

In 1868, the [[1868 Expedition to Abyssinia|British military expedition]] to [[Amba Mariam|Magdala]], the capital of Emperor [[Tewodros II of Ethiopia]], under [[Robert Napier, 1st Baron Napier of Magdala|Field Marshal Robert Napier]], took MTTs with them to pay local expenses. In 1890 the Italians introduced the {{lang|it|Tallero Eritreo}}, styled after the MTT, in their new [[Italian Eritrea|colony Eritrea]], also hoping to impose it on the commerce with Ethiopia. They remained, however, largely unsuccessful.<ref>{{cite web |url=http://www.coincommunity.com/forum/topic.asp?ARCHIVE=true&TOPIC_ID=30981 |title=Eritrean Tallero |date=30 May 2008 |archive-url=https://web.archive.org/web/20150828171004/http://www.coincommunity.com/forum/topic.asp?ARCHIVE=true&TOPIC_ID=30981 |archive-date=28 August 2015}}</ref>

In the early 1900s, [[Menelek II of Ethiopia|Menelik II]] unsuccessfully attempted to mint Menelik thalers locally, with his effigy, but styled following the model of the MTT, and force their use. The newly established [[Bank of Abyssinia]] also issued [[banknotes]] denominated in thalers. Starting in 1935 the Italians minted the MTT at the mint in Rome for use in their conquest of Ethiopia. Then during World War II, the British minted some 18 million MTTs in Bombay to use in their [[East African campaign (World War II)|East African Campaign]] to drive the Italians out of Ethiopia.<ref>{{cite journal |last1=Tschoegl |first1=Adrian E |year=2001 |title=Maria Theresa's Thaler: A Case of International Money |journal=[[Eastern Economic Journal]] |volume=27 |issue=4 |pages=445–464 }}</ref>

== Citations ==
{{Reflist}}

==Further reading==
{{Refbegin}}
*{{cite journal |title=The Development of Money Supply in Ethiopia |first=Jan Warren |last=Duggar |journal=Middle East Journal |volume=21 |issue=2 |year=1967 |pages=255–61}}
*{{cite journal |title=The Twentieth Century Minting of the Maria Theresa Thaler |first=Ian |last=Fenn |year=2010 |journal=New Zealand Numismatic Journal |volume=90 |pages=9–39}}
*{{cite journal |title=Pre-Colonial Currencies: A Note on the Maria Theresa Thaler |first=Raymond |last=Gervais |journal=African Economic History |volume=11 |year=1982 |issue=11 |pages=147–52 |doi=10.2307/3601220 |jstor=3601220}}
*{{cite journal |title=The Maria Theresa Dollar in Pre-War Ethiopia |first=Richard |last=Pankhurst |author-link=Richard Pankhurst (historian) |journal=Journal of Ethiopian Studies |volume=1 |issue=1 |year=1963 |pages=8–26}}
*{{cite journal |title=The Perpetuation of the Maria Theresa Dollar and Currency Problems in Italian-Occupied Ethiopia, 1936–1941 |first=Richard |last=Pankhurst |journal=Journal of Ethiopian Studies |volume=8 |issue=2 |year=1970 |pages=89–117}}
*{{cite journal |title=The Maria Theresa Thaler: A Famous Trade Coin |first=Shepard |last=Pond |journal=Bulletin of the Business Historical Society |volume=15 |issue=2 |year=1941 |pages=26–31 |doi=10.2307/3110662 |jstor=3110662}}
*{{cite book |first=Clare |last=Semple |year=2006 |title=A Silver Legend: The Story of the Maria Theresa Thaler |publisher=Barzan Publishing |isbn=0-9549701-0-1}}
*{{cite journal |title=The Maria Theresa Thaler |first=H. G. |last=Stride |journal=The Numismatic Chronicle and Journal of the Royal Numismatic Society |series=Sixth Series |volume=16 |year=1956 |pages=339–43}}
*{{cite journal |title=Maria Theresa's Thaler: A Case of International Money |first=Adrian E. |last=Tschoegl |journal=Eastern Economic Journal |volume=27 |issue=4 |year=2001 |pages=443–62}}
{{Refend}}

==External links==
{{Portal|Money|Numismatics}}
{{Commons category|Maria Theresa thaler}}
* [http://www.theresia.name/ The Maria Theresia Taler 1780] – Provides information including history, description of variants, strike dates, valuation list, medals, and forgeries.
* [http://www.austrian-mint.at/ Austrian Mint] – The place where the coin is minted to this day.

{{Thaler}}
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[[Category:Silver coins]]
[[Category:Currencies of Austria]]
[[Category:Maria Theresa]]
[[Category:Trade coins]]
[[Category:Thaler]]